DraftKings and FanDuel, the two biggest daily fantasy sports platforms that originally announced their intention to merge last year, have called it quits.
This comes a month after the FTC announced they would sue to block the merger to prevent a potential monopoly in the industry, as the combined company would control more than 90 percent of the U.S. market for paid daily fantasy sports contests.
Both companies have confirmed to TechCrunch they will be terminating the merger.
Because the deal was never finalized, both sites were operating independently, and of course will now continue to do so indefinitely.
A merger was also supposed to help the companies cut down on their crazy advertising spending.
So as the NFL season approaches (the most lucrative time of the year for both companies), it will be interesting to see how they approach this, considering pre-merger both were spending money on advertising at an unsustainable rate.